Pensions And Survival

Author:  Geoffrey N. Calvert

dsc00275The government uses the CPP as a cheap way to borrow money for roads and infrastructure projects.

“The CPP has become the backbone of provincial debt financing,” states its advisory committee, pointing out that in the four years to March 31, 1974, the CPP furnished 38% of all provincial borrowing. “A bloody rip off!” is how a highly informed non - government observer in Ottawa described this procedure. Whichever way it is viewed, it does not stand up to the normal tests of a pension funding operation. “ CHAPTER FIVE: The Public Pension Plans/ PG 85. I found out about this book on Pg 39 of ANN FINLAYSON’S WHO’S MONEY IS IT ANYWAY: The Showdown on Pensions. Geoffrey Calvert is a distinguished New Zealander turned actuary. He created a pioneering statistical data bank for the World Bank in Washington D.C.

 

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